The EV Charging Infrastructure Market has just started in Saudi with loads of government initiatives that are ongoing and upcoming: Ken Research

01-Feb-2023   Mohammed Almusawa, Designation: Commercial Manager, ASX EV Solutions   Author: Rishabh Pahava

In conversation with Mr. Almusawa, Commercial Manager at ASX EV Solutions, we tried to understand the EV Charging Equipments Landscape in KSA. We also discussed some of the major trends pertaining to the EV Charging Equipment Market in Saudi Arabia.

“The EV Charging Infrastructure Market has just started in Saudi with loads of government initiatives that are ongoing and upcoming.”

Q1. According to you, what are the driving factors of EV Charging Equipments Market in Saudi Arabia?

Some of the driving factors for EVs in Saudi are growing carbon emissions, government initiatives towards sustainable future and setting up manufacturing facilities for EV vehicles in the region. Normal combustion engine vehicles are now being sold for a very low margin and EVs are being considered a way for car dealers to make money and they are coming up with new business models to make money on the EVs and EV Charging Equipments. The kingdom is looking to be the main hub for exporting the EV ecosystem in the next few years.

Q2. What has been the major market restraints for EV Charging Equipments in Saudi Arabia?

One of the major market restraints for EV charging equipments in Saudi Arabia is the huge shortage in the supply chain for these products as they are all imported from other countries. Manufacturers don’t have the capacity and demand for these products is peaking not just in Saudi Arabia but all over the globe. Supply constraint is the major shortfall for EV charging equipments market in Saudi Arabia. One of the reasons for supply constraints is also because of no domestic manufacturing is happening in the country.

Q3. How is ASX EV Solutions operating in Saudi Arabia?

ASX EV is a subsidiary of AlSharif Group Holding. ASX EV solutions was established 2 years back in Saudi Arabia. ASX EV solutions is building a network of EV chargers in the Saudi region. We have partnered EVBox to provide us with the chargers.

Q4. What are the Government Initiatives for the EV Charging Equipments market in KSA?

Government of Saudi is taking a lot of initiatives for the EV Market which will directly impact the EV charging equipments market in the country. Many of the initiatives by the government are going to be implemented during the first quarter of 2023, including announcing various subsidies and policies. Recently, the government backed EV Manufacturer, Lucid was launched in the country.

Q5. Who are the major competitors in the EV Charging Equipments Market in the country?

There is very limited competition in the EV Charging equipments market in Saudi Arabia. Some of the major players in the market are Schneider electrics, EVBox, Siemens, ABB and more. All these major companies have their offices in the Saudi region but doesn’t have any manufacturing plant.

Q6. According to you, what are the major threats for EVs in Saudi Arabia?

The supply chain of EVs is one of the major threat in Saudi. Pricing, customer preference, and supply of electricity are also considered as some of the major risk factors for EV market in Saudi Arabia.

Q7. How many charging stations are currently being operated in Saudi Arabia (rough estimate)?

There are very limited number of charging stations installed in Saudi. Currently in Saudi Arabia there are 20-30 Public charging stations and 150-200 private charging stations installed and being operated across the country.

Q8. What are the future plans of ASX EV solutions?

ASX EV Solution has submitted a tender for 5,000 EV stations as most of the properties, land, and area are occupied by the government. We have signed a 10 years contract with the government for building EV Chargers all across Medina. We also have contracts with car dealers, fleet operators, commercial places, companies and OEM brands for buying and installing chargers from ASX EV solutions.

For more insights on the market intelligence, refer to the link below: -

KSA EV Charging Equipment Market

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